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Be Prepared: Know Your Credit Rating

Published: 28 October 2013
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Author: Carl Shave - CEO and co-founder
Last updated: 16Jul2024

At Just Mortgage Brokers, we believe that the first step to improving your credit rating is to have a full understanding of what it is. You know you’ve got bad credit – but what does that mean? It’s essential to have a thorough understanding of your current credit report, and what you’ve done to impact it, in order to understand how you can improve it in the future.

Know Your Credit Report

The first step is to know what you’re dealing with, and that means getting to know your own credit report inside out. It may seem difficult to get your hands on a detailed report of your credit history without having to pay a fee – which isn’t ideal when you’re already in debt in the first place! At Just Mortgage Brokers, we advise all of our clients to get a free credit report through Noddle. This website gathers information from credit agency data and provides users with a comprehensive credit report. The best thing about it is that it is free – for life! No 30 day trials or hidden charges, with this clever tool you can monitor your credit report carefully over time, without paying a penny.

View Your History

Noddle allows you to view your financial information in real time with notifications on whether you are up to date on your current payments. You can also view your payment history over the last six years, details of any credit checks which have been carried out on your account, your registration on the electoral role, details of any court judgements and much more. It summarises your credit rating with a score from 1- 5, although mortgage lenders will use their own credit scoring systems when considering a mortgage application. The rating will give you an indication of how much of a credit risk you may be at that time.

Don’t Worry

If your credit rating is poor, it’s important not to be disheartened. Everything listed can affect your credit rating, including a high number of enquiries from banks or employers. It takes time to rebuild your credit rating, but with a credit report tool such as Noddle, you’ll be able to easily keep track of all the payments which affect your credit rating, and make sure that they are kept up to date.

We Can Help

Accessing your credit report is just the first step. Here at Just Mortgage Brokers, we can provide you with ongoing advice and assistance to help you understand and improve your credit score. Using the information you can glean from Noddle, we’ll be able to explain your adverse credit mortgage options to you, and help you find the ideal mortgage to meet your needs and budget. If you’re looking for a mortgage with a less-then-perfect credit rating, we can help. Get in touch with our friendly, professional team on 0800 9777840 or contact us online.